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Solana price surges 9% as ETF approval odds rise to 76% following SEC chair change, fueling market optimism and strong trading activity.
News
- Solana price jumped 9% in 24 hours, leading top cryptocurrencies during a broader market rebound.
- Polymarket shows a 76% chance of a SOL ETF approval in 2025 after SEC leadership changes.
- Social media trends and rising on-chain activity have boosted Solana’s visibility and market relevance this weekend.
Solana (SOL), the sixth-largest cryptocurrency by market value, climbed nearly 9% in the past 24 hours. The price increase aligns with a broader recovery in the cryptocurrency market and rising expectations of a Solana exchange-traded fund approval in the United States.
The confidence levels have increased after Paul Atkins secured his position as the new U.S. Securities and Exchange Commission chair. The prediction market Polymarket shows that the probability of SOL ETF approval reaching 76% for 2025. Since early January, the SOL ETF approval possibilities have grown by 11% to reach 76%.
SOL leads top 10 crypto in daily performance
At the time of writing, Solana was trading at $125, showing a 6% gain in 24 hours and outperforming other major cryptocurrencies. Weekly performance also remained positive, with a 4% increase. The rally began after SOL found support at $95.16 on April 7 and resumed momentum following a brief dip on Thursday.
Data from Santiment highlighted Solana as one of the most discussed altcoins entering the weekend. Social media activity focusing on SOL’s price action, trading strategies, and market movement saw a sharp increase. This growing attention has helped drive its trading volumes and sustained interest from investors.
If the current rebound holds, analysts see the potential for Solana to test the 50-day simple moving average at $132.14. A break beyond that level could open a path toward $153. However, if the price reverses and falls below $110, the token may revisit its April 7 low of $95.
